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Property profile & analytics
OFF-MARKET
Estimated value
$14,440,000
Grocery and convenience stores
2650 New Salem Hwy 2658 Murfreesboro, TN 37128-5265
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-1645161
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2010
Construction
FRAME
Total area
61,779 SF
Lot
11.01 ac (479,596 SF)
APN
114-002.12-000
UPID
US80-1645161
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Publix Super Market at Market at Salem Cove Bakery Specialty Food Shop
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Publix Pharmacy at Market at Salem Cove Pharmacy
-
The Market At Salem Cove Grocery & Convenience Store Food Market
-
Goodwill Donation Express Center Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$14.44M
CAP Approach
CAP
$11.06M
Comparable Approach
Comparable
$9.95M
Blend (final)
Blend
$14.44M
Owner & transaction history
Psm Tennessee Holdings LLC · 2 yrs held
Psm Tennessee Holdings LLC
since 2024
Last sale
$14.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$18.7M
+67.0%
Auto repair, garage
$14.9M
+32.9%
Medical building
$11.5M
+2.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Murfreesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Murfreesboro submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$14,440,000
ML approach
$14,440,000
CAP Approach
CAP Return
Estimation
6%
$11,975,000
6.5%
$11,055,000
7%
$10,265,000
Alternative Use
Use
Estimation
RETAIL STORES
$11,200,000
Current use
COMMERCIAL (GENERAL)
$18,705,000
Change: +67% · Conversion: Easy
AUTO REPAIR, GARAGE
$14,890,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$11,505,000
Change: +3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$10,455,000
Change: -7% · Conversion: Moderate
OFFICE BUILDING
$9,985,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$14.44M
Range $13.00M – $15.88M · ±10% · vs last sale $14.44M (May 13 2024)
Last sale anchor
$14.44M
May 13 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$234 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$105,594
Tax year 2023
Assessed value
$3,732,800
Assessed 2024
Previous assessed
$3,732,800
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$816,440
Assessed improvement
$2,916,360
Land market value
$2,041,100
Improvement market value
$7,290,900
Total market value
$9,332,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2010
Construction
FRAME
Heating
ZONE
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
61,779 SF
Lot
11.01 ac (479,596 SF)
APN
114-002.12-000
UPID
US80-1645161
Jurisdiction
RUTHERFORD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$11.2M
COMMERCIAL (GENERAL)
Est. value
$18.7M
AUTO REPAIR, GARAGE
Est. value
$14.9M
MEDICAL BUILDING
Est. value
$11.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.5M
OFFICE BUILDING
Est. value
$10.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2010
Construction
FRAME
Heating
ZONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
11.01 ac
Current owner
From public records · entity-resolved
Psm Tennessee Holdings LLC
Entity
Mailing address
PO BOX 32018, LAKELAND, FL 33802-2018
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2024
$14,437,500
Psm Tennessee Holdings LLC
Salem Cove LLC
Special Warranty Deed
—
Oct 8, 2014
$14,200,000
Salem Cove LLC
Lf2 Salem LP
Grant Deed
related
$9,600,000 · Keybank USA
May 7, 2012
—
Lf2 Salem LP
—
Deed Of Trust
related
$7,300,000 · Pnc Bank
Aug 4, 2010
—
Lf2 Salem LP
—
Deed Of Trust
related
$7,000,000 · Bank Of America
Jan 4, 2010
$1,200,000
Lf2 Salem LP
Barclay Salem Partners LLC
Warranty Deed
—
May 9, 2008
—
Barclay Salem Partners LLC
Westbury Farms LLC
Quit Claim Deed
related
$4,100,000 · Key Bank & Trust
Jan 17, 2007
$2,602,000
Barclay Salem Partners LLC
Decker,daniel B & Patricia B
Warranty Deed
$4,100,000 · Key Bank & Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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